NEO still fighting the system - Triangle forming
Neo has been troubling me but I think I have not seen the bigger picture.
Black lines are the bigger trend lines form the highest highs and highest lows. The pink lines are what I thought was potentially a new uptrend forming but also bands withing the down ward trend.
Looking at daily chart there is a potential of the symmetrical triangle forming, when we look at the MACD there is a bearish cross over with volume heading to oversold conditions. The RSI is also heading below 30, all signs of upward movement and if they all align we will see a breakout of the triangle. This is the break everyone is waiting for and will then reach the targets everyone so much hoping for I think. But like always volume is required.
First resistance is around 144, then 170 then 200+ is the target.
Lets see would be pretty special if this is what is going to happen :)
Black lines are the bigger trend lines form the highest highs and highest lows. The pink lines are what I thought was potentially a new uptrend forming but also bands withing the down ward trend.
Looking at daily chart there is a potential of the symmetrical triangle forming, when we look at the MACD there is a bearish cross over with volume heading to oversold conditions. The RSI is also heading below 30, all signs of upward movement and if they all align we will see a breakout of the triangle. This is the break everyone is waiting for and will then reach the targets everyone so much hoping for I think. But like always volume is required.
First resistance is around 144, then 170 then 200+ is the target.
Lets see would be pretty special if this is what is going to happen :)
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